Britain to end state support for fossil fuel sector exports

Britain to end state support for fossil fuel sector exports
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AP The announcement by British Prime Minister Boris Johnson comes a day before he co-hosts a virtual summit with more than 70 world leaders to mark the fifth anniversary of the Paris climate accord. File Photo | Photo Credit: Britain said on Friday that it is ending state support for fossil fuel industry exports, and shifting government assistance to low-carbon and renewable energy projects abroad. The announcement by Prime Minister Boris Johnson comes a day before he co-hosts a virtual summit with more than 70 world leaders to mark the fifth anniversary of the Paris climate accord. Britain already declared earlier this month that it plans to cut its greenhouse gas emissions by at least 68% by 2030. “By taking ambitious and decisive action today, we will create the jobs of the future, drive the recovery from coronavirus and protect our beautiful planet for generations to come,” Mr. Johnson said in a statement. The U.K. government said it will end export finance, aid funding and trade promotion for new crude oil, natural gas or thermal coal projects, with very limited exceptions. The policy means an end to government support in the form of overseas development aid, export finance or […]

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